On rare occasions the selling price at auction for a piece of property will exceed the amount of the defaulted loan. In the event that the sale results in "overbid" proceeds, distribution of the excess funds is as follows:
- If there is a deficiency between the amount bid at auction and the amount owed by the homeowner, the excess proceeds are first applied to that deficiency, therefore reducing the amount of money still left owing the bank that the homeowner will be responsible for.
- If there are any overbid funds left after the deficiency is satisfied, they are then distributed to junior lien holders who have filed an Intent to Redeem the property with the Public Trustee.
- Once the overbid funds have been distributed to qualifying junior lien holders, any remaining overbid proceeds become the property of the homeowner.
Above is the current list of unclaimed excess funds from properties that have been sold at auction in Denver. This list is updated at the end of each month.
If you are on this list, please call 311 in Denver, or 720-865-8400, to contact the Denver Public Trustee and claim your funds.